Sumner Redstone's fire sale of all of his Midway stock was predictably bad for the price of the financially troubled game publisher. Our sister site GameDaily reports that on Thursday the stock price went down 40 percent from its already low price and ended the trading day at just 28 cents a share.

As we reported earlier this week, Redstone sold his 87 percent stock in Midway to another investor for a mere $100,000. Midway's stock plunge comes just a few days after the company received a delisting warning from the New York Stock Exchange. Midway now has six months to get its stock trading above $1 on the NYSE for 30 consecutive days or it will be taken off that particular trading market.

But the clock is already ticking at Midway. According to a Variety story, the company disclosed in a US Securities and Exchange Commission filing that the sale of all that stock triggered a provision that would allow all of Midway's debt holders to ask for their money. In short, Midway needs to find some way to raise $150 million in 50 days or it could declare bankruptcy. Midway stated they are working to find a way to get new funding or renegotiate its debt.